User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday April 24, 2013 - 03:51:02 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 24-Apr-2013 -0348 GMT


Dow Jones (14719.46, +152.29, +1.05% ): Contrary to our view yesterday, the Dow Jones came up with a smart rally and closed 152 points higher but might still trade in a band 14500-14900 for a while, within the overall long-term uptrend.

Dax ((7,658.21, +180.10, +2.41%): German Dax has surprised with a staggering 180 point, breaking the fall in April. The retracement to 7700 has happened and now the index is at a critical make or break level. A Close above 7700 will be bullish. Support stands in at 7300.

Nikkei (13,705.00, +175.38, +1.30%) Backed by strong global cues the Nikkei has opened higher by 130 points and in the process has surpassed the key supply area of 13600. The index is in bull territory and looks likely to hit 15,000 in the medium term. However some retracement in the short term cannot be ruled out. Support for the Nikkei comes in at 13500.

Nifty (5836.90, +2.5 pts) managed to close marginally higher yesterday. The market is closed on account of Mahavir Jayanti today.


Gold (1421) is likely to see weakness. Resistance is seen near 1455. Gold looks particularly weak on the MCX, with potential to fall towards 23500. Silver (22.994) is trading weak, looks weak overall for a further decline towards 22.

Brent (100.4) has closed above 100. Looks likely to trade between the bread band of 97-103.

Copper (3.1095) looks quite weak however on the short term a bounce to 3.15 cannot be ruled out. In the medium test of the Oct-2011 low near 2.994 is quiet likely

Important development: The Dollar Index (83.02) has broken above 82.70 and seems to be pushing higher. Watch crucial Resistance at 83.81. That needs to hold in order to prevent further strength.

The Euro (1.2993) trades softer but has crucial Support at 1.2970. Today's German IFO data (which has been might determine whether the Euro climbs back into the 1.30-32 range or breaks below 1.2970 to target 1.2900. Dollar-Yen (99.35) managed to bounce from 98.48 yesterday. That seems to be a good Support now and an attempt to break above 100 could still be seen. Or, it could be that the market might consolidate between 98.00-100 till the BOJ Meeting on Friday. The Euro-Yen Cross (129.07) looks likely to consolidate between 130.50-127.50 this week. There is important Resistance near 131.80-132.00 on the Monthly chart, which might not break easily.

The Pound (1.5235) has dipped since yesterday, but has good trendline Support near 1.5200 which might be worth buying into today, for a rise towards 1.54. The UK GDP data due tomorrow (expectation +0.10%) could be a positive catalyst if the number is better than expected.

The Aussie (1.0233) is close to testing the very crucial Support at 1.0215. We could see a bit of a bounce given that the Aussie has already fallen 3.35% from 1.0582 since 11-Apr.

The Singapore Dollar (1.2412) trades relatively weak. The Brazilian Real (2.0185) has weakened over the last few days. However, the 200-day MA at 2.0248 could provide some Resistance to the USDBRL. The Rupee market is closed today on account of Mahavir Jayanti.

The Italian 10-Yr (3.94%) has fallen below 4.00% but has crucial Support near current levels. The Spanish 10-Yr (4.28%) has decline further and the Spain-Germany 10-Yr Spread (3.02%) is now at its lowest since Dec-11. Support is seen coming up near 2.80%.

While it is strange that the Euro is not being able to benefit from lower yields in Italy and Spain, perhaps it is the presence of Supports mentioned above which is making the markets cautious.

The market awaits the BOJ Meeting on Friday to see what inflation expectation the BOJ has after having pronounced at 2% inflation target. The JGB yields have been quite volatile recently, especially at the longer end of the Curve. The Curve as a whole has flatted a decent bit in the last few weeks, with the 5-Yr (0.23%) moving up and the 30-Yr (1.59%) coming down. Japanese LIBOR (6-mnth 0.2486%) has been coming down steadily for the last few months.

India is waiting keenly for a rate reduction at the next RBI Meeting on 03-May. The 10-Yr (7.75%) has come down from 8% in April and has potential to fall further towards 7.60% after a brief consolidation.

1:30 GMT or 7:00 IST AU CPI
...Expected 0.70 % ...Previous 0.20%

8:00 GMT or 13:30 IST GER IFO Business Climate
...Expected 106.40 ...Previous 106.70

8:00 GMT or 13:30 IST GER IFO Business Situations
...Expected 109.40 ...Previous 109.90

8:00 GMT or 13:30 IST GER IFO Business Expectations
...Expected 103.20 ...Previous 103.60

12:30 GMT or 18:00 IST US Durable Goods Orders
...Expected -2.80 % ...Previous 5.60 %



US New Home Sales
...Actual 417 K ...Previous 411 K



Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."

Actionable trading levels delivered to YOUR charts in real-time.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 3 Dec 2018
A All Day Final Mfg PMIs
Tue 4 Dec 2018
A 04:30 AU- Reserve Bank Decision
Wed 5 Dec 2018
A All Day Final SVC PMIs
A 04:30 AU- CPI
A 13:15 US- ADP Jobs
A 13:30 US- Productivity
A 15:00 CA- Bank Of Canada Decision
A 15:30 US- EIA Crude
B 19:00 US- Beige Book
Thu 6 Dec 2018
AA 12:45 EZ- ECB Decision
AA 13:30 US/CA- Trade
A 13:30 US- Weekly Jobless
Fri 7 Dec 2018
A 10:00 EZ- GDP
AA 13:30 US/CA- Employment
A 15:00 US- Final Univ of Michigan

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105